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Creditors Appeals Purdue Pharma

Jones Day

Purdue Prohibition of Nonconsensual Third-Party Chapter 11 Plan Releases Does Not Apply to Bankruptcy Asset Sales

Jones Day on

The U.S. Supreme Court's 2024 ruling in the Purdue Pharma bankruptcy cases generally prohibiting nonconsensual releases of non-debtors in chapter 11 plans sent shockwaves through the restructuring community. With one fell...more

DarrowEverett LLP

Release Me? Supreme Court to Resolve Contentious Bankruptcy Issue

DarrowEverett LLP on

In March 2022, we discussed the decision by the Southern District of New York (the “District Court”) overturning the U.S. Bankruptcy Court for the Southern District of New York’s (the “Bankruptcy Court”) confirmation of...more

Dorsey & Whitney LLP

A Tale of 4 Cities: How Different Jurisdictions Recently Address Third-Party Releases

Dorsey & Whitney LLP on

The ability of a chapter 11 going-concern debtor to be discharged from its prepetition liabilities is common place and not controversial.  11 U.S.C.  § 1141(d). However, the ability of a debtor to release third-party...more

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